Data from Manulife US REIT’s latest results are compiled on the 1Q Singapore REITs results page, and have been updated into the Singapore REITs table.

Since its listing on the SGX, Manulife US REIT has existed as a ‘pure play’ office REIT with a portfolio that is geared exclusively towards trophy class, and Grade A office properties.

But the CEO of the REIT’s manager, Jill Smith, confirmed in an event on 8 February that her team is now considering the acquisition of business park properties as part of plans to expand into a sector with “higher octane”.

Manulife US REIT had earlier reported during the day that its DPU for 2H 2020 was down by 11.3% year-on-year at 2.59 US cents despite higher revenue.

The REIT has attributed the fall mainly to higher vacancies in Michelson and Peachtree, lower car park income, and provision for credit losses from retail trade and F&B tenants.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.